Ch 3 - CHAPTER 3 FEASIBILITY ANALYSIS Feasibility Analysis...

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CHAPTER 3 FEASIBILITY ANALYSIS Feasibility Analysis - the process of determining if a business idea is viable. if an idea is worth pursuing screen ideas before spending resources on them. opportunity recognition feasibility analysis business plan Four Components of the Feasibility Analysis : A. Product/Service Feasibility B. Industry/Market Feasibility C. Organizational Feasibility D. Financial Feasibility A. Product/Service Feasibility – assessment(s) of the overall appeal of the prod/serv 1. Concept Testing - showing a representation of the prod/ser to prospective users to gauge customer interest, desirability, and purchase intent. Purposes: (a) to evaluate the underlying premises of a prod/ser (b) to help develop an idea; and (c) to estimate potential market share 47
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Concept statement - a preliminary description of a business developed b/f the feasibility analysis, includes: - A description of the prod/service - The target market - Benefits of the product or service - A description of how the product will be positioned relative to competitors - A description of how the product or service will be sold
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This note was uploaded on 03/28/2011 for the course MNGT 305 taught by Professor Chadwick during the Spring '11 term at Nicholls State.

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Ch 3 - CHAPTER 3 FEASIBILITY ANALYSIS Feasibility Analysis...

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